Taxation changes will broaden economic recovery


Changes announced in today’s budget will strengthen and broaden economic recovery, according to East Galway TD Paul Connaughton.
Deputy Connaughton congratulated Finance Minister Michael Noonan on a budget which he said will grow the economy, get more people back to work and spread the benefits of economic recovery across the country.
‘Today’s Budget is another milestone along the road to economic recovery and the beneficial effects will be felt by families all across the state. Increased child benefit, an increase in the living alone allowance, changes to the universal social charge and the reintroduction of a Christmas bonus, albeit on a reduced scale, will be welcomed by many.
‘I acknowledge the many incentives that Minister Noonan has introduced towards ensuring that the state’s agricultural output continues to increase, in particular changes to the treatment of income from long term leasing, changes to the capital gains tax regime and the removal of an upper age limit of 40 in terms of some reliefs for farmers.
‘The past seven years have been a difficult time for people of all ages. After years of difficult budgetary measures, the public finances are now under control and the Irish economy is growing at the fastest rate among developed economies.
‘The policies pursued by this Government are working, the recovery is underway and I welcome the fact that Budget 2015 aims to ensure that any available benefits are spread among all age groups and in sectors that will benefit every region of the country. In coming months, we must continue to strengthen consumer confidence, support jobs and build demand in the domestic economy.’